Why is customer orientation a strategic opportunity for most companies?
Whilst acquiring new customers has become a difficult and costly exercise, the intensification of competition has considerably reinforced the influence customers have on companies. These four key questions should therefore be asked:
To what extent are the products and services of our organization different from those of our competitor, in the eyes of our customers?
For most industries, it takes an electronic microscope to see any difference between the products and services offered by companies from the same industry.
To what extent are our customers loyal?
On average, a mere 1/3 of the clients of a company are loyal in terms of repurchasing and word-of-mouth information.
To what extent is the loyalty of our clients driven by their satisfaction with our products and services?
It depends on your industry and on the performance of your company in terms of customer orientation, and a specific customer survey is needed to answer that question more precisely.
Is the level of satisfaction customers have in my company, products and services strong enough for them to be loyal, spread the word and consequently, maximize my profits?
Most companies in most industries could considerably improve their profitability by embarking upon a customer orientation strategy.